Latest news with #BrianMcNamara
Reuters
31-07-2025
- Business
- Reuters
UK's Haleon cuts revenue growth forecast on weak North America demand
July 31 (Reuters) - British consumer healthcare group Haleon (HLN.L), opens new tab cut its annual revenue growth forecast on Thursday after first-half growth missed expectations due to a U.S.-led demand slowdown in North America, sending its shares down as much as 5%. Weak consumer confidence and competition from rivals in the United States, Haleon's biggest market, have hurt uptake of its seasonal and discretionary products, even as demand for oral health products was robust for the Sensodyne toothpaste maker. CEO Brian McNamara told Reuters that the market for smokers' health products was one area where consumers were opting for lower-priced options, but that was not something Haleon was seeing across other discretionary products. Haleon's smokers' health business, which sells nicotine replacement products, saw a double-digit drop in first-half revenue, with headwinds expected to persist through the year. McNamara added that seasonal trends around cold and flu had become more unpredictable post-COVID, with variations in demand more "drastic than ever before". While a stronger flu season in the U.S. helped sales of respiratory products like Theraflu and Robitussin, a weaker allergy season hit sales of Flonase, the company said. Haleon expects organic revenue growth - which strips out currency moves and recent deals - of about 3.5% for the year ending December. It had previously expected growth of 4% to 6%. "This is not a good update. The organic sales growth guide cut is more extreme than feared," Jefferies analysts said. Haleon's shares were down 1.1% at 360 pence at 0930 GMT, having earlier hit a one-year low of 346.1 pence. The company expects stronger organic revenue growth in the second half of 2025, led by performance in other regions, but said demand in North America was "likely to remain subdued". The company, spun off from GSK in 2022, reported revenue growth of 3.2% for the six months ended June 30, below the 3.4% expected by analysts in a company-compiled poll. Adjusted operating profit came in at 1.24 billion pounds ($1.64 billion), compared with expectations for 1.22 billion pounds, primarily helped by price increases and cost cuts.
Irish Daily Mirror
15-06-2025
- Sport
- Irish Daily Mirror
Louth v Clare LIVE score updates from All-Ireland football clash
Louth take on Clare this afternoon in their third and final group stage match of the All-Ireland senior football championship. Both sides can still make it to the knockout stages, but while Louth need only a draw, Clare are on the hunt for a win. Today's game throws in at 2pm. It isn't being streamed or televised anywhere, so follow our live blog below to keep up to date with all the action. LOUTH 1. Niall McDonnell; 2. Daire Nally, 3. Dermot Campbell, 4. Donal McKenny; 5. Conal McKeever, 6. Peter Lynch, 7. Craig Lennon; 8. Tommy Durnin, 9. Ciarán Byrne; 10. Bevan Duffy, 11. Ciarán Downey, 12. Conor Grimes; 13. Ciarán Keenan, 14. Sam Mulroy (c), 15. Ryan Burns. Subs: 16. Tiernan Markey, 17. Liam Jackson, 18. Anthony Williams, 19. Emmet Carolan, 20. Kieran McArdle, 21. Dara McDonnell, 22. Dan Corcoran, 23. Conor Branigan, 24. Ryan Walsh, 25. Dylan McKeown, 26. Paul Mathews. CLARE 1. Eamon Tubridy; 2. Rory McMahon, 3. Ronan Lanigan, 4. Manus Doherty; 5. Alan Sweeney, 6. Cillian Rouine, 7: Ikem Ugweuru; 8. Brian McNamara, 9. Daniel Walsh; 10. Shane Griffin, 11. Dermot Coughlan, 12. Connor Meaney; 13. Aaron Griffin, 14. Eoin Cleary, 15. Mark McInerney Subs:16. Tristan O Callaghan, 17. Fionn Kelleher, 18. Jamie Stack, 19. Evan Cahill, 20. Brendy Rouine, 21. Darren Nagle, 22. Joseph Rafferty, 23. Emmet McMahon, 24. Keelan Sexton, 25. Diarmuid O Donnell, 26. Ciarán Downes They're a talented group. They're unlucky to miss out on promotion just about up to Division Two. Three seasons ago they were the best team in the early rounds of Division Two. Louth mobilised quite well after that, finishing on eight points themselves in that division. They're an excellent team. Yes, they've lost a couple of bodies, but if you're looking, you've got Mark McInerney, Emmet McMahon, Connor Meany, Brian McNamara, and then Keelan Sexton too.
CNBC
05-05-2025
- Business
- CNBC
Made in the USA: This domestic manufacturer could benefit from tariffs, Canaccord Genuity says
With most if its manufacturing done in the United States, Worthington Enterprises is a tariff-proof stock that can benefit from record-high duties slapped on imported goods, according to one Wall Street analyst. Shares in the Columbus, Ohio-based company that makes dozens of consumer and industrial products, from Coleman propane tanks to acoustic ceiling systems, are already 37% higher in 2025. "We believe this stock is primed for outperformance, being a hidden gem that many investors are generally unaware of since its December 2023 separation from its Steel business, Worthington Steel," Canaccord Genuity analyst Brian McNamara wrote in a Sunday note. The investment bank upgraded Worthington to buy from hold, and raised its price target by 24%, to $67 per share from $54. Canaccord's forecast implies roughly 23% upside from Friday's $51.99 close. McNamara said a recent meeting with company executives left him more optimistic, given Worthington's "advantageous" manufacturing position. WOR YTD mountain Worthington Enterprises stock in 2025. "The wide-ranging conversations demonstrated a humble, yet confident management team that believes it is well positioned with predominant domestic manufacturing in a tariff-riddled environment," the analyst said. McNamara noted that Worthington is the sole domestic manufacturer of gas grill cylinders and that peers have moved manufacturing overseas, giving the company a leg up as tariffs push higher. At the same time, McNamara estimated that only $60 million to $80 million of Worthington's annual revenue comes from products sourced from China. Estimated sales in the fiscal year ending May 31 are pegged to come in at $1.137 billion, according to analyst polled by FactSet. "Some relatively low-priced components and small valves are affected by China tariffs, but management noted they have good relationships, which will help with mitigation efforts," McNamara said. "The most significant component is steel, which WOR purchases domestically." The analyst also forecast that if competitors raise prices in response to tariffs, Worthington won't follow suit or not to the same extent. "If tariff-exposed competitors raise prices, we expect WOR to take less price and prioritize [market] share gains," McNamara wrote.
Telegraph
21-03-2025
- Business
- Telegraph
Sensodyne-maker axes diversity targets from bonuses
Haleon is to axe diversity targets from its executive bonus scheme in the latest sign that UK businesses are rowing back on DEI. The Sensodyne-maker has confirmed that its chief executive and chief financial officer will no longer have to meet gender representation targets to maximise their pay. The diversity targets had formed part of the company's share scheme, which accounts for a significant portion of executive remuneration. Last year, Brian McNamara, the company's chief executive, secured share payouts worth £6m, taking his total pay package for the year to £9m. Under the 2022-2024 share plan, executives were set targets for women to hold at least 44.5pc of leadership roles, which the company subsequently met. However, Haleon – which was split out from GSK in 2022 – has now removed the gender diversity target for the coming year to 'ensure continued compliance with requirements in countries in which we operate'. It follows a pushback from the US government over corporate diversity initiatives, spearheaded by Donald Trump since coming to power in January. The move comes just weeks after GSK, which counts the US government as one of its largest customers, also revealed it was watering down diversity targets for its executive bonus scheme. The London-listed drugmaker said it was putting diversity activities on pause to review them, adding: 'We have to ensure we remain compliant with the law in the countries in which we operate, including the US. We are consulting and talking to our people about all of this.' Mr Trump has sought to ban federal agencies and contractors from setting diversity, equality and inclusion (DEI) targets, while he has also signed into law new rules that require companies to scrap targets. This shift has already filtered through to the UK, with a recent poll of 500 City executives showing that one in three bosses now believe DEI has gone too far. Figures compiled for The Telegraph by job site Adzuna last month revealed that hiring for DEI roles has fallen by a third since last year.
The Independent
19-03-2025
- Business
- The Independent
Pfizer offloads final shares in Sensodyne maker Haleon
US pharmaceutical firm Pfizer has sold off its remaining stake in Sensodyne and Panadol maker Haleon for around £2.5 billion. Haleon has agreed to buy back 44 million shares from Pfizer for £3.85 a share – totalling about £170 million – as part of the deal, with the remaining 618 million shares being sold to institutional investors. It sees Pfizer exit its investment in the UK consumer healthcare firm after the US group said in 2023 that it planned to reduce its holding gradually. Haleon was formed in 2019 by the merger of the consumer healthcare businesses of British pharmaceutical group GSK and US rival Pfizer, sitting as a joint venture within GSK. It was then spun out of GSK as a standalone business and listed on the London Stock Exchange in July 2022. GSK initially retained a 12.9% stake in Haleon after the flotation, but offloaded its holding completely in May 2024 when it sold its last remaining shares for £1.2 billion. Pfizer had been left with a 7.3% stake in Haleon until the remaining stake sale. BlackRock Investment Management now becomes Haleon's biggest shareholder, with a stake of more than 5% following the share sale by Pfizer. Haleon said the move to buy shares from Pfizer will make up some of its planned £500 million in share buybacks this year, which were announced on February 27. Brian McNamara, chief executive of Haleon, said: 'Today's transaction is an important milestone for the business and marks Pfizer fully exiting its stake in Haleon, having been at 32% at the time of demerger in July 2022. 'Our participation in the offering is consistent with our disciplined capital allocation priorities, and supports our commitment to deliver attractive returns for shareholders, underpinned by a strong investment grade balance sheet. 'Nearly three years on from demerger, Haleon is in a position of strength and is well placed to capitalise on the significant opportunities ahead.'
